Corn futures closed the Monday session with contracts 1 to 5 ¼ cents in the red, led by the nearbys. The front month CmdtyView national average Cash Corn price was down 5 cents at $4.57 3/4. The markets will be closed on Friday in observance of Good Friday.
USDA released a private export sale of 120,000 MT of corn to Japan this morning for 2024/25 shipment.
After the close, NASS reported that 4% of the US corn crop was planted as of 4/13, which is just a tick behind the 5% 5-year average pace.
Export Inspections data showed a total of 1.829 MMT (72 mbu) of corn shipped during the week of April 10. That was an increase of 34.02% from the previous week and 13.36% above the same week last year. Mexico was the largest destination of 632,450 MT, with 265,158 MT to Japan, and 162,389 MT to Taiwan. Marketing year exports have totaled 37.51 MMT (1.477 bbu), which is 30.49% above the same period last year.
APK-Inform estimates that the Ukraine corn crop will be up a sharp 18% from the year prior to 29.2 MMT in a release on Monday.
May 25 Corn closed at $4.85, down 5 1/4 cents,
Nearby Cash was $4.57 3/4, down 5 cents,
Jul 25 Corn closed at $4.92 3/4, down 4 1/4 cents,
Dec 25 Corn closed at $4.62, down 1 1/2 cents,
New Crop Cash was $4.26 3/8, down 1 cents,
